Biz: Groupon’s IPO downsizes, then upsizes again (just a little bit)
- $13.3 billion Groupon valuation ahead of their IPO
- $20 the cost of Groupon’s shares during its upcoming IPO
- 35M the number of shares the company plans to sell, up from 30 million
- $700M the amount of money the company plans to raise with the IPO source
- » It was supposed to be way higher than this: Back when Groupon first floated the idea of their IPO, the expected valuation was $15 to $20 billion, a number which threw investors off and led to allegations that 1) they were overhyped, 2) Groupon was an elaborate ponzi scheme and 3) their IPO is a sign that a fresh tech bubble is on the way. They backed off some of the higher valuations, but then set the price at $20 per share, instead of the expected $16-18. When it finally hits, it’s going to be an interesting ride, to say the least.